Gold futures were sharply lower Friday, settling at their lowest in two months and losing nearly 4% for the week. A surprise monthly climb in U.S. jobs and a drop in the nation's unemployment rate led to a rally in the stock market, dulling demand for haven gold.
August gold lost $44.40, or 2.6%, to settle at $1,683 an ounce. That was the lowest finish for a most-active contract since April 3. For the week, prices lost 3.9%, according to FactSet data.
Source: Marketwatch

Gold futures fell on Friday morning, amid a global rally in stocks that was dulling the appeal for the yellow metal.
August gold on Comex shed $18.70, or 1.1%, at $1,708.70 an ounce, nearly giving up all of its gains from the previous session.
Meanwhile, July silver lost 24 cents, or 1.3%, at $17.830 an ounce, after sinking 0.6% on Thursday.
For the week, gold is down 2.5%, while silver has lost 3.6% over the past five trading sessions.
Source : Marketwatch

U.S. stocks jumped at the open on Friday after a closely watched report showed a surprise drop in the U.S. unemployment rate, lending weight to hopes of a faster economic rebound from a coronavirus-driven slump.
The Dow Jones Industrial Average rose 554.98 points, or 2.11%, at the open to 26,836.80. The S&P 500 opened higher by 51.49 points, or 1.65%, at 3,163.84, while the Nasdaq Composite gained 87.73 points, or 0.91%, to 9,703.54 at the opening bell.
Source : Reuters

Wall Street surged on Friday after a strikingly upbeat May jobs report unexpectedly provided the clearest evidence yet that the U.S. economy is headed for a quicker-than-anticipated recovery.
The Nasdaq breached its all-time closing high reached in February but pared its gains to end the session just below it. All three major U.S. stock indexes advanced two percent or more.
Unofficially, the Dow Jones Industrial Average rose 829.16 points, or 3.15%, to 27,110.98, the S&P 500 gained 81.58...

Stocks rallied on Friday after a historic and surprising gain in U.S. jobs raised hope the economy is starting to recover from the coronavirus pandemic.
The Dow Jones Industrial Average jumped 1,030 points, or 3.9%. The S&P 500 traded 3.1% higher. The Nasdaq Composite advanced 2.2%. The Nasdaq-100, which tracks the 100-largest nonfinancial companies in the composite, rose 2% to a record high.
Friday™s rally put the S&P 500 down just 0.7% for 2020. At one point this year, the...

U.S. employers kept adding workers at a healthy pace in July and wage gains picked up, underlining a solid labor market ahead of this week's Federal Reserve interest-rate cut and President Donald Trump's threat to ratchet up tariffs on Chinese goods.

Payrolls rose 164,000, almost matching projections, though the two prior months were revised lower, according to a Labor Department report Friday. The jobless rate held at 3.7%, near a half-century low, while average hourly earnings climbed 3.2% from a year earlier, better than forecast.

Despite July's healthy payrolls figure, the three-month average increase of 140,000 was the slowest in almost two years. That trend is in line with forecasts for a gradual slowing of job gains as the labor market tightens, but it could also be seen as a sign that the economy is losing steam.

Investors boosted bets on additional reductions after Trump's latest trade salvo on Thursday. The Federal Reserve had signaled a day earlier that its quarter-point interest-rate cut would likely start only a short round of monetary easing, though Chairman Jerome Powell indicated that the central bank was watching trade developments closely.

Revisions subtracted 41,000 jobs from the prior two months. The June figure was lowered from 224,000 to a less-eye-popping 193,000.

The job gains were led by service providers, particularly in education and health services, as well as professional and business services. Retail payrolls fell for a six month, while manufacturing added the most in six months. Construction gains were relatively weak, at 4,000.

Average hourly earnings rose 0.3% from the prior month, above estimates, following an upwardly revised 0.3% gain. That indicates wages are gaining momentum as employers encounter greater difficulty finding workers, and also bodes well for resilient consumer spending in the face of tariffs.

The participation rate, or share of working-age people in the labor force, increased to 63% as the count of both employed and unemployed Americans increased in the household survey.

At the same time, the average workweek got shorter, boosting average hourly pay. The average for all private employees decreased to 34.3 hours, from 34.4 hours, as manufacturing hours touched their lowest point since November 2011.

As business reopenings picked up nationwide, Americans filed nearly 2 million applications for unemployment benefits last week, reflecting a slowing -- though far from a halt -- in job losses.
Initia...

U.S. services industry activity pushed off an 11-year low in May, but businesses appeared in no rush to rehire workers as they reopen, supporting views the economy could take years to recover from the...

Private-sector employment shed a total of 2.76 million jobs in May, Automatic Data Processing Inc. reported Wednesday. The gain was well below forecasts from economists surveyed by Econoday who expect...

Gold futures were sharply lower Friday, settling at their lowest in two months and losing nearly 4% for the week. A surprise monthly climb in U.S. jobs and a drop in the nation's unemployment rate led to a rally in the stock market, dulling demand for haven gold.
August gold lost $44.40, or 2.6%, to settle at $1,683 an ounce. That was the lowest finish for a most-active contract since April 3. For the week, prices lost 3.9%, according to FactSet data.
Source: Marketwatch

Gold futures fell on Friday morning, amid a global rally in stocks that was dulling the appeal for the yellow metal.
August gold on Comex shed $18.70, or 1.1%, at $1,708.70 an ounce, nearly giving up all of its gains from the previous session.
Meanwhile, July silver lost 24 cents, or 1.3%, at $17.830 an ounce, after sinking 0.6% on Thursday.
For the week, gold is down 2.5%, while silver has lost 3.6% over the past five trading sessions.
Source : Marketwatch

U.S. stocks jumped at the open on Friday after a closely watched report showed a surprise drop in the U.S. unemployment rate, lending weight to hopes of a faster economic rebound from a coronavirus-driven slump.
The Dow Jones Industrial Average rose 554.98 points, or 2.11%, at the open to 26,836.80. The S&P 500 opened higher by 51.49 points, or 1.65%, at 3,163.84, while the Nasdaq Composite gained 87.73 points, or 0.91%, to 9,703.54 at the opening bell.
Source : Reuters

Wall Street surged on Friday after a strikingly upbeat May jobs report unexpectedly provided the clearest evidence yet that the U.S. economy is headed for a quicker-than-anticipated recovery.
The Nasdaq breached its all-time closing high reached in February but pared its gains to end the session just below it. All three major U.S. stock indexes advanced two percent or more.
Unofficially, the Dow Jones Industrial Average rose 829.16 points, or 3.15%, to 27,110.98, the S&P 500 gained 81.58...

Stocks rallied on Friday after a historic and surprising gain in U.S. jobs raised hope the economy is starting to recover from the coronavirus pandemic.
The Dow Jones Industrial Average jumped 1,030 points, or 3.9%. The S&P 500 traded 3.1% higher. The Nasdaq Composite advanced 2.2%. The Nasdaq-100, which tracks the 100-largest nonfinancial companies in the composite, rose 2% to a record high.
Friday™s rally put the S&P 500 down just 0.7% for 2020. At one point this year, the...